Alloy Founder and CEO, Rick Mayo, discusses what you should know about how to evaluate the best business franchises for 2022.
When it comes to the business world, things have changed dramatically in recent years. One of the largest changes, though, has been around the definition of success. While “success” used to mean climbing the corporate ladder and making someone else rich, today’s definition of success relates much more to independence.
Today, people believe that being truly successful means finding a work-life balance, eliminating earnings caps, and owning a business they find fulfilling and enjoyable.
So, it makes sense that we’re also in the middle of a franchise boom. A franchise is a viable business opportunity that offers all the benefits of independent business ownership without the fear, uncertainty, and vulnerability associated with being a traditional entrepreneur.
If you’ve ever considered starting your own franchise, now is an excellent time to do it. In this blog, we’ll look at the top business franchises for 2022, and what makes each option unique. We’ll also talk about how to choose the right one for you, based on things like net-worth requirements and initial investment costs.
Top Business Franchises
Alloy Personal Training
Since this is our blog, we’re putting Alloy right at the top! The Alloy Personal training Franchise opportunity is unique because it was actually one of the first fitness franchise models available in the fitness industry.
We combine personal service, innovative technology, and thirty years of experience in the small-group and personal training industry to deliver a scalable, resilient business model that ensures success for our franchise owners.
During the height of the COVID-19 pandemic, we proved exactly how resilient and adaptable we proved exactly how resilient and adaptable we (and the fitness franchise industry) were by pivoting to digital and on-demand classes, increasing our focus on nutrition plans, and delivering remote personal training services that people could access from their living rooms.
Learn more about the Alloy opportunity, or how to get your own branded, brick-and-mortar Alloy location here.
Although the exact opposite of Alloy, McDonald’s stands out as one of the most popular business franchises available today.
While McDonald’s is one of the most expensive franchises in the world (requiring an initial investment of $1,263,000-$2,235,000 as compared to $169,000 to $336,000 for the smaller studio Alloy franchise model), it’s also a franchise with incredible brand recognition. People who open a McDonald’s franchise in a high-traffic location with little neighboring competition should be able to earn back their investment quickly.
Primrose Schools is a national chain of accredited early education and care schools that serves children ranging from infants to kindergarten students and kids enrolled in after-school programs.
If you wanted to own a Primrose franchise, you’d need to invest between $637,900 to $6,375,500 initially, and meet a net-worth requirement of $750,000 to $1.2 million.
The ongoing royalty fee for Primrose Schools is 7%, while the ad royalty fee is 2%. If you care about early childhood education and enjoy working with children, a Primrose Schools franchise could be a good fit for you.
Ace Hardware franchise locations are a nice alternative to big-box home improvement stores and often take on the flavor and color of their home communities.
The Ace Hardware business model prioritizes helpful staff, excellent customer service, and reasonable product selections (none of those overwhelming aisles you see in a big box store).
Ace Hardware franchises are also more affordable than other popular business franchise options, with an initial investment requirement of $286,000 to $2,110,230 and a net-worth requirement of just $400,000.
Keller Williams Realty
Keller Williams realty franchise offices help real estate agents build successful businesses while also providing clients with the network they need to find and purchase their dream home.
Investing in a Keller Williams franchise will cost $183,947 to $336,995 out of pocket, with a liquid cash requirement of $150,000. Like Alloy, Keller Williams has a high degree of brand recognition, and a long track record of success. The company has been serving clients since 1987.
Pillar to Post Home Inspectors
The country is in the midst of a real estate boom right now, and home inspection services are in high demand. That’s why so many people are turning to home inspection franchise opportunities like Pillar to Post Home Inspectors.
The required initial investment for a Pillar to Post franchise location is $37,100 to $45,900, while the liquid cash requirement is just $10,000. Ongoing royalty fees are 7%, and ad royalty fees are 4%.
Merry Maids is one of the largest house cleaning franchises in the country, and one that enjoys a healthy level of name-brand recognition. In an industry that can be overwhelming for customers to navigate, people trust the Merry Maids brand and understand that it is synonymous with quality and comprehensive cleaning.
The initial investment to start a Merry Maids franchise is $89,619 to $125,023, with a net-worth requirement of $90,000 and a liquid cash requirement of $35,000. Ongoing royalty fees vary from 5% to 7%, while ad royalty fees sit at 1.3% per year.
Now is a Great Time to Open a Business Franchise
If you’ve ever considered opening your own business franchise, now is a great time to take the leap. The opportunities are endless, and there’s a franchise opportunity to suit virtually every interest and skill set.
Here at Alloy Personal Training, we pride ourselves on offering industry-leading training and support for our new franchise owners, and the marketing training and assistance you need to get off the ground during the first year.
If you think an Alloy Franchise could be the right fit for you, we want to meet you. Get in touch with our team today to learn more about the franchise opportunity or request your free information packet.
Article by: Rick Mayo
Learn more with these articles:
- Why 2022 Is The Right Time To Invest in a Fitness Franchise
- 5 Reasons to Invest in a Fitness Franchise Now
- Franchise Questions Prospects Should Ask Before Buying
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